Under the terms of the definitive merger agreement, MPBI will merge into FMBI and Merchants and Planters Bank will merge into Centennial Bank.

The merger, which has been approved by both companies’ boards of directors, is expected to close in the fourth quarter of 2017 or the first quarter of 2018.

Upon completion of the transaction, the combined bank will have approximately $457 million in total assets.

Merchants and Planters Bank, founded 1904, operates four full-service community bank offices within one county while Centennial Bank f/k/a Farmers & Merchants Bank, founded 1916, operates eight offices across four counties.